lets start afresh, page-3

Hello,

A significant part of how Iron Ore miners are valued is looking at the expected forward price of Iron Ore.

Whilst the price of Iron Ore may increase by 25% bringing it up to $100 for the next year etc....

Given that BHP wants to increase from 120 to 300mt p.a

CVRD is going for over 400, RIO over 300, FMG potentially upto 200m t p.a....and lets not forget Mid caps not only those from Australia but from all over the world that are coming on board in 2010-2012.

There is the potential for the Iron Ore price to retract in the medium term. Thus, using realistic long term Iron Ore prices add some surety to your valuation metrics.

I would suggest adding more to the cost, more to capex and less to realised price.

I think the vandium addition is the insurance policy for this company in the medium to long term.

As someone said to me once, its an educate your kids stock.

AXO.....$10 by 2010.

TheGimp